Ultimately, the decision to purchase travel insurance is entirely personal. Most people don’t utilize the service, and if they do, it’s generally simple flight coverage. Don’t get us wrong—flight and baggage insurance are nearly essential for safe and secure travel. However, if you are travelling long distances for extended periods of time with expensive equipment, travel insurance is a great investment.
The most important role of travel insurance: It protects your investment. Travelling is expensive, and—whether you think it will or not—accidents are bound to occur. Sure, if you sprain your ankle while walking from the hotel to the pool, it might not be a bi deal. But what if your appendix bursts? What if your $2,000 flight is cancelled? What if your $1,000 pair of skis is lost in the airport?
Additionally, medical emergencies are nearly unforeseeable. If your trip involves any type of extreme sport, such as backpacking, skiing, or scuba diving, purchasing medical or evacuation insurance becomes essential. Reflect on the nature of your trip: Did you spend a lot of money on flights? Are you going to be very active, or do you plan to spend your time on the beach? These are the questions you must ask to determine if you want to purchase and how much insurance you might need.